Ridgewood Investments LLC Cuts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Ridgewood Investments LLC trimmed its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 10.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,757 shares of the electric vehicle producer’s stock after selling 204 shares during the period. Ridgewood Investments LLC’s holdings in Tesla were worth $710,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TSLA. International Assets Investment Management LLC boosted its position in Tesla by 35,611.2% during the third quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock valued at $2,892,160,000 after buying an additional 11,023,436 shares during the period. Clean Energy Transition LLP boosted its position in Tesla by 347.7% during the second quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock valued at $953,505,000 after buying an additional 6,764,300 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Tesla by 13.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,377,822 shares of the electric vehicle producer’s stock valued at $6,377,970,000 after acquiring an additional 2,946,763 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Tesla by 52.0% during the third quarter. Wellington Management Group LLP now owns 7,344,526 shares of the electric vehicle producer’s stock valued at $1,921,548,000 after acquiring an additional 2,511,488 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Tesla by 236.8% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock valued at $416,341,000 after acquiring an additional 1,479,378 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares of the company’s stock, valued at approximately $45,063,565.40. The trade was a 6.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of Tesla stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the transaction, the director now directly owns 5,400 shares of the company’s stock, valued at approximately $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 621,886 shares of company stock worth $213,451,751. Insiders own 20.70% of the company’s stock.

Tesla Price Performance

Shares of TSLA stock traded down $4.91 on Friday, hitting $390.03. 34,555,604 shares of the stock traded hands, compared to its average volume of 78,602,820. The firm has a market cap of $1.25 trillion, a price-to-earnings ratio of 106.86, a PEG ratio of 10.80 and a beta of 2.30. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $488.54. The firm has a 50 day simple moving average of $373.68 and a two-hundred day simple moving average of $279.12. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.84 and a quick ratio of 1.37.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.58 by $0.14. The firm had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The company’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm earned $0.53 EPS. As a group, equities research analysts predict that Tesla, Inc. will post 1.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on TSLA shares. Mizuho raised shares of Tesla from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $230.00 to $515.00 in a research note on Tuesday, December 17th. New Street Research raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $460.00 price target for the company in a research note on Monday. Truist Financial reissued a “hold” rating and issued a $360.00 price target on shares of Tesla in a research note on Thursday, January 2nd. UBS Group increased their price target on shares of Tesla from $197.00 to $226.00 and gave the stock a “sell” rating in a research note on Monday, November 25th. Finally, Piper Sandler increased their price target on shares of Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Nine equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $295.69.

About Tesla

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.